Wills, enduring powers of attorney and estate planning are not the most exciting things to have to consider in life. The mere contemplation of a will, considering what will happen to your property if you die, isn’t something that gets you going.
You are also far more likely to be thinking about your next holiday, the kids school commitments, planning a celebration for a life event or wondering how you can work hard to get a promotion. Obviously these things are important in your life, but what happens next?
It’s not exhilarating, like for example ‘mergers and acquisitions’, but it is fundamentally important to your family and those who you care about when you are gone. Take it from us, the person that dies without a will leaves behind far more distress and angst for the person who has to administer the estate, not to mention complicated legal headaches.
Below you will find some information about wills, enduring powers of attorney and estate planning generally. If you don’t have a will, it’s probably time to think about getting one. Get in touch with one of our experienced lawyers if it’s time to review your will – contact us here.
Estate law is the area of law that regulates the transfer of a person’s property after they have died. This is commonly arranged by that person leaving behind a will that explains their wishes for the division of their property.
The property to be divided will include both their assets and their liabilities (everything they own and owe), and the law sets out a proper process to follow when making such divisions. An executor will be appointed by the will, and they will be in charge of managing the deceased’s estate.
Undeniably the best path is to ensure you and your loved ones have made arrangements for what happens to their estate when they pass away. This can be done easily in the form of a Will or an estate plan. Such documentation can save you and your loved ones a lot of stress and time down the track.
Of course, even if there is a Will prepared, there is still a process to go through in order to make sure the deceased’s wishes, as well as the laws, are followed.
Estate law can be one of the most emotionally distressing areas of law. We understand that the death of a loved one is a difficult time and certainly not an ideal time to be dealing with complicated legal processes or disputes. It is important to make sure you have support during this time, both personally and professionally.
There are a number of ways we can help you during this time, whether you have been appointed executor and want help performing this role, or if there is a dispute between beneficiaries over the division of the estate and you require assistance or representation. Even if you just need some general advice on what the law is and how it applies to your own situation, we can help.